Contracts Manager
A Contracts Manager handles the creation, negotiation, and review of contracts within an organization. They ensure legal and financial compliance and oversee the entire contract lifecycle.
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Sample Job Descriptions for Contracts Manager
Below are the some sample job descriptions for the different experience levels, where you can find the summary of the role, required skills, qualifications, and responsibilities.
Junior (0-2 years of experience)
Summary of the Role
A junior Contracts Manager is responsible for overseeing and managing contracts throughout their lifecycle. They will work with various stakeholders to ensure that contracts are executed effectively and within compliance. The role includes contract preparation, negotiation, implementation, and close-out. The ideal candidate will have a strong understanding of legal and business principles as related to contracts.
Required Skills
- Contract management software proficiency.
- Negotiation and interpersonal skills.
- Problem-solving and decision-making abilities.
- Time management and ability to prioritize tasks.
- Basic understanding of business law and practices.
Qualifications
- Bachelor's degree in Business, Law, or related field.
- Understanding of legal terminology and principles pertinent to contracts.
- Ability to analyze contracts and documents for accuracy and legal compliance.
- Strong organizational skills and attention to detail.
- Excellent written and verbal communication skills.
Responsibilities
- Assist in the development and preparation of contracts and agreements.
- Work with legal teams and business units to negotiate contract terms.
- Monitor contract performance to ensure compliance with terms and conditions.
- Identify contract risks and issues and propose resolutions.
- Maintain accurate contract documentation and files.
- Manage contract renewal processes.
- Coordinate with finance departments to ensure adherence to budgetary guidelines.
Intermediate (2-5 years of experience)
Summary of the Role
As a Contracts Manager, you will oversee the preparation, negotiation, and management of company contracts. Your role involves ensuring that all contracts are legally compliant and aligned with the company's goals and objectives. You will also be responsible for mitigating risks and managing contract-related challenges.
Required Skills
- Excellent negotiation and communication skills.
- Strong analytical and organizational skills.
- Proficient in contract management software and Microsoft Office Suite.
- Ability to work independently with minimal supervision and to manage multiple projects simultaneously.
- Detail-oriented with strong problem-solving skills.
- Understanding of the industry and its legal and regulatory environment.
Qualifications
- Bachelor's degree in law, business administration, or a related field.
- Minimum of three years of experience in contract management or a related field.
- Proven experience in negotiating contracts and understanding of legal terminology.
- Knowledge of procurement and sourcing practices.
Responsibilities
- Develop and implement procedures for contract management and administration in compliance with company policy.
- Negotiate terms and conditions of contracts with clients and suppliers.
- Monitor compliance by company employees with established procedures and identify areas of recurrent pressure.
- Coordinate with the finance department to ensure correct billing and collection of contractual revenues.
- Ensure that signed contracts are communicated to all relevant parties to provide contract visibility and awareness, interpretation to support implementation.
- Handle on-going issue and change management, and monitor transaction compliance (milestones, deliverables, invoicing, etc.).
- Manage record keeping for all contract-related correspondence and documentation.
- Provide contract-related issue resolution, both internally and externally.
- Monitor and complete contract close-out, extension, or renewal, as appropriate.
Senior (5+ years of experience)
Summary of the Role
We are seeking an experienced Contracts Manager to oversee our contract negotiation, execution, and analysis for the purpose of maximizing operational and financial performance while reducing risk. The ideal candidate will have a keen understanding of contract law, excellent negotiation skills, and the ability to work in a dynamic business environment.
Required Skills
- Strong leadership and organizational skills.
- Excellent analytical and problem-solving abilities.
- Proficiency with contract management software and MS Office.
- Ability to work under tight deadlines and manage multiple contracts simultaneously.
Qualifications
- Bachelor’s degree in Business Administration, Law, or a related field.
- Minimum of 5 years of relevant experience as a Contracts Manager.
- In-depth knowledge of procurement regulations, contract documents, and legal specifications.
- Exceptional negotiation and communication skills.
- Extensive experience in managing contracts and understanding of legal terminology.
- Certification in contract management is a plus.
Responsibilities
- Oversee the entire contract life cycle from drafting through execution to ensure compliance and minimize risk.
- Negotiate contract terms with vendors, suppliers, and contractors.
- Analyze potential risks involved with specific contract terms and provide mitigation strategies.
- Ensure that contracts are executed in accordance with corporate guidelines and regulations.
- Coordinate with various departments to ensure contracts align with internal policies and business strategy.
- Handle breach of contracts in a timely and effective manner.
- Monitor contractual performance by all parties, ensuring all terms are adhered to.
- Provide guidance on contract matters to project managers or other operational staff.
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